Porsche AG Chairman Dr. Wendelin Wiedeking

Dec 10, 2007

Porsche AG chairman Dr. Wendelin Wiedeking recently published his first book, Don't Follow the Crowd: Suggesting a New Approach in Industry and Politics, Piper Verlag GmbH. Wiedeking imparts his thoughts ranging from the Porsche brand to what he thinks of securities analysts and bankers. The following are among the tenets put forth by the chairman.

+ Ideas and concepts that one decides to pursue must have the character of a long-term strategy; there must be no action just for its own sake, and all social groups, not only customers, should be able to understand the company's intentions without difficulty.

+ Those who do nothing but cut costs will soon have nothing and nobody left to produce and sell the goods.

+ The share price is no indication of a company's success. The stock market's verdict is important, but it isn't the whole story. The danger is that quarterly reports and the like will lead one to take this short-term view.

+ Trying not to hurt anyone's feelings and sticking to the middle of the road are one possible solution, but not the right one.

+ Every company needs committed, hardworking, loyal employees. It won't have them for long if they are constantly told that they have to be content with the pay levels of Thailand.

+ Corporate image is not created by blowing one's own trumpet. It's a long, drawn-out process and needs to be backed by one virtue above all, as I have never ceased to emphasize: credibility.

For More on Porsche:
Pure Porsche
The Power of Independence
Measuring Brand Value and Values
0 to 60 Q & A with David Pryor
Porsche AG Chairman Dr. Wendelin Wiedeking